Stocks to watch on Tuesday, December 26, 2023: Muthoot Microfin and Suraj Estate Developers to debut on the bourses today.
Stocks to Watch on Tuesday, December 26, 2023: Benchmark equity indices are likely to resume trade after the extended holiday break on a quiet note, as global cues remain tepid.
At 07:00 AM, Gift Nifty futures quoted at 21,410, indicating a flat to marginally positive start for the Nifty 50.
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Meanwhile, here are the stocks that are likely to be in focus on Tuesday.
Muthoot Microfin, Suraj Estate Developers: These two stocks will debut on the bourses today. The former was subscribed up to 11.5 times, while the latter 15.7 times.
Paytm: Changes in its business due to shifts in regulatory stance and the adoption of artificial intelligence have been responsible for the fintech major to rationalize its employee cost structure. Sources told Business Standard the company was exploring different ways to save on its employee costs and had laid off a few employees on “performance” grounds. READ MORE
Kalyan Jewellers: Incorporates a wholly-owned step-down subsidiary - Kalyan Jewellers Procurement LLC - in UAE.
Anupam Rasayan: Inks Letter of Intent worth Rs 507 crore with one of the leading Japanese Multi National Chemical company to supply new age polymer intermediate for the next 9 years.
Adani Green: Has inked a power purchase agreement (PPA) to supply 1,799 megawatts (Mw) of solar power with the Solar Energy Corporation of India (SECI). With this, Adani Green now has tied up PPAs of 19.8 Gw.
ONGC: The company's wholly-owned overseas arm ONGC Videsh plans to raise up to Rs 5,000 crore through non-convertible debentures (NCDs) for funding capex, refinancing and operations.
Aurobindo Pharma: The company in an exchange filing said the United States Food and Drug Administration (US FDA) completed a Pre-Approval Inspection (PAI) at its new injectable facility in East Windsor, New Jersey. The inspection resulted in 10 observations, which are procedural in nature.
Adani Wilmar: Promoters will offload 1.24 per cent stake to comply with Sebi's minimum public shareholding norms. The divestment is to be done by January 31, 2024.
Biocon: The pharma company's arm Biocon Biologics has partnered with Sandoz for the distribution, sale, and promotion of Adalimumab (a biosimilar version of the blockbuster drug Humira) in Japan.
Lupin: Lupin Atlantis Holdings, a wholly-owned subsidiary of Lupin, has signed an Asset Purchase Agreement with French-based Sanofi for acquisition of a portfolio of accretive established products in Europe and Canada. The brands AARANE in Germany and NALCROM in Canada and the Netherlands have a combined turnover of approximately $6.494 million (Rs 53.7 crore) for FY23.
Stocks in F&O ban today: Ashok Leyland, Balrampur Chini, Delta Corp, Hindustan Copper, India Cements, National Aluminium and SAIL are in futures & options ban period on Tuesday.